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When I listen to stories my grandparents tell of the hardships they endured and the sacrifices they and their parents made to provide and get ahead, I wonder if we have handicapped ourselves in our reliance on debt, the government, church benevolence, etc. I understand the need in emergency situations, but I’m concerned for our general population. Any thoughts?
Taking It Easy
It is not uncommon for the older generation to be concerned about younger generations. That may be why Ecclesiastes 7:10 says, Do not say, ‘Why were the old days better than these?’ For it is not wise to ask such questions.
But I generally agree with you that there’s a lack of discipline in many areas of life as evidenced by America’s obesity, sexual misconduct, porn addiction, gaming, obsession with entertainment and social media, growing federal debt and vitriolic rhetoric. I could go on, but let’s stick to my topic: money. Many of the financial problems we have in our country can be attributed to overspending, a lack of basic literacy in personal financeand ignorance of God’s financial principles.
It’s been said that if you don’t discipline your finances, they’ll discipline you. But, I’ll add that undisciplined spending punishes you.
Total outstanding consumer debt of Americans: $3.9 trillion
- Households of zero or negative net worth hold the highest amount of credit card debt of all economic sectors, an average debt of $10,308
- Americans paid banks $113 billion in credit card interest in 2018, 12% higher than 2017.
- Average American household debt: $5,700
- Total American household debt: $13.21 trillion
44.7 million students
- $1.56 trillion total U.S. student loan debt
- 11.5% of these loans are 90 days or more delinquent or in default
7 million are 90 days or more delinquent (6.5% of all auto financed loans)
Americans collectively owe $9.12 trillion
It Doesn’t Have to Be This Way
In his book, Folks, this Ain’t Normal, Joel Salatin relates how he and his wife moved into his parents’ farmhouse attic and converted it into an apartment. When his grandmother, who lived in a mobile home on the property, passed away, his parents moved there, giving Joel their home to raise his family. His grown children have returned to live on the same land with their families.
Joel’s children had chores, started their own businesses, and at 20 years old, had $20,000 in the bank. Given no allowance, they earned money and saved for the future. He considers it liberating and launching. I find it lacking in many homes today.
Example of Patience and Prayer
Recently, I learned about a couple who stopped using credit cards. Their budget was tight and they ran out of diapers along with cash. Desperate, they prayed.
Sometime later, their neighbor appeared at the door. She asked if they could use a case of diapers that her child had outgrown. It was the exact size they needed. God provided.
I fear many are missing out on God’s blessings because of impatience. Rather than working hard, asking and waiting on Him to provide, they rely on easy credit or dependence on others. Many families are fractured and so burdened with debt they are unable to help one another.
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Source: Christian Post